Authored by Michael Pettis, op-ed via The Financial Times,
Beijing must reveal the true level of GDP and wasted investment...
China’s 19th Communist party congress ended last month with an indication that Xi Jinping’s new administration plans to rein in debt by abandoning the country’s long-term economic targets and allowing gross domestic product growth to fall.
If we’re going to discuss Asian equities in the context of “awesome”, we should begin with Tencent. Tencent, which has more than doubled this year, drove Asian stocks higher during Tuesday’s trading session. Trading on the main board of the Hong Kong Stock Exchange hit a 28-month high of HK$157 billion with one fifth of it in only two stocks – Tencent (HK$21.7 billion) and Ping An Insurance (HK$9.4 billion). It was hardly surprising that shares in Hong Kong Exchanges & Clearing also had a good day, rising 5.5%, the most in more than a year. Tencent’s 2.4% rise pushed it market cap.
Authored by Seth Lievense via Limpidus.org,
A few short months after Admiral Scott Swift, Commander of the US Navy’s Pacific Fleet, said he would obey a hypothetical order to launch a nuclear strike against China if the president chose to give it, Air Force Gen. John Hyten - America's top nuclear commander - said Saturday he would push back against President Trump if the president ordered a nuclear launch the general believed to be "illegal."
As we reported yesterday, this year’s Victoria’s Secret fashion show, which is slated to take place in Shanghai in just two weeks, is unraveling like a cheap lace thong thanks to Chinese authorities’ refusal to cooperate with its producers, and Communist Party's decision to deny visas to some of the biggest stars who were slated to participate in the show.